Sunday, October 03, 2010

Three words of advice

I blogged recently on PROFITguide.com about my participation at PROFIT Magazine's GrowthCamp, the conference for the growth-company entrepreneurs who made the magazine's Hot 50 list in September.

In moderating a roundtable discussion with 10 GrowthCamp attendees, I asked each of them: What three words of advice would they offer other business owners?

Not all of them managed it in three words, and a few mantraa require some explanation. Overall however, I think their responses address a lot of key business challenges:

Protect your reputation.

Be proactive, not reactive.

Persistence is everything – never give up.

Focus. Niche.

Personal relationships: know your clients inside-out.

Monitor your reputation. (If you want to protect your reputation, this entrepreneur said, you have to first know what other people are saying about you, so you can defend your good name. Think Twitter searches and Google Alerts.)

Listen to your employees and your customers.

Drive your dreams. (When I asked what that means, the entrepreneur said, “To attract talent, they have to believe in what you're driving for.”)

Protect your time, and plan. (This entrepreneur wanted his peers to understand that time flies away if you're not guarding it; make sure your workday is well scheduled to give you the time to make reasoned, thoughtful decisions. “Being effective,” says this entrepreneur, “is more of a technical challenge than we think.”)

Empower your People.

What’s your three-word business mantra?
Take six words if you need them.

5 comments:

1. Understand your core business, then disturb the status quo.2. Get innovative thinking on the front burner.3. Revisit your roots to create new growth.4. Explore what you can be, not what you are.5. Success comes from action!

About Me

Writer, speaker and consultant on business growth, entrepreneurship and opportunity. My column appears weekly in the National Post. My speaking topics include innovation, best practices, social media, and the future of business success.
Please e-mail me: rick (at) rickspence.ca
Because some of you have asked: (416) 231--8920